SPDR SP Correlations

SLYG Etf

USD 94.48 3.17 3.47%

The current 90-days correlation between SPDR SP 600 and SPDR SP 600 is 0.94 (i.e., Almost no diversification). The correlation of SPDR SP is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

SPDR SP Correlation With Market

Very poor diversification

The correlation between SPDR SP 600 and DJI is 0.87 (i.e., Very poor diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding SPDR SP 600 and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with SPDR Etf

Check out World Market Map to better understand how to build diversified portfolios, which includes a position in SPDR SP 600. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in commodities.

Moving together with SPDR Etf

0.96	VBK	Vanguard Small Cap	Pair Corr
0.98	IWO	iShares Russell 2000	Pair Corr
1.0	IJT	iShares SP Small	Pair Corr
0.9	PBW	Invesco WilderHill Clean	Pair Corr
0.97	JKK	iShares Morningstar	Pair Corr
0.98	VTWG	Vanguard Russell 2000	Pair Corr
0.98	VRTGX	Vanguard Russell 2000	Pair Corr
1.0	VIOG	Vanguard SP Small	Pair Corr
0.97	ISCG	iShares Morningstar	Pair Corr
0.97	WSML	iShares MSCI World	Pair Corr
0.85	PULS	PGIM Ultra Short	Pair Corr
0.91	CPSR	Calamos ETF Trust	Pair Corr
0.91	LCAP	Principal Capital	Pair Corr
0.88	DRSK	Aptus Defined Risk	Pair Corr
0.78	SPRX	Spear Alpha ETF	Pair Corr
0.92	SIXD	AIM ETF Products	Pair Corr
0.94	IWV	iShares Russell 3000	Pair Corr
0.77	GSFP	Goldman Sachs Future	Pair Corr
0.95	MDLV	EA Series Trust	Pair Corr
0.63	PLTG	Leverage Shares 2X	Pair Corr
0.72	SPTI	SPDR Portfolio Inter	Pair Corr
0.99	TNA	Direxion Daily Small	Pair Corr
0.73	WTTSX	Wisdomtree Digital Trust	Pair Corr
0.98	SSEUF	SSgA SPDR ETFs	Pair Corr
0.88	SFYF	SoFi Social 50	Pair Corr

Moving against SPDR Etf

0.76	BITI	ProShares Trust	Pair Corr
0.7	MPAY	Exchange Traded Concepts	Pair Corr
0.66	ALTS	ALT5 Sigma	Pair Corr

Related Correlations Analysis

	MDYG	MDYV	RZG	SLYV
MDYG		0.93	0.95	0.93	MDYG
MDYV	0.93		0.93	0.96	MDYV
RZG	0.95	0.93		0.98	RZG
SLYV	0.93	0.96	0.98		SLYV
	MDYG	MDYV	RZG	SLYV

SPDR SP Constituents Risk-Adjusted Indicators

There is a big difference between SPDR Etf performing well and SPDR SP ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze SPDR SP's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
MDYG	0.72	(0.03)	(0.02)	0.07	0.78	(0.86)	1.39	(1.45)	3.88
MDYV	0.81	(0.02)	0.01	0.08	0.84	(0.95)	2.10	(1.47)	4.21
RZG	0.85	0.02	0.04	0.11	0.85	(0.87)	1.57	(1.64)	4.59
SLYV	1.06	0.03	0.07	0.11	1.03	(1.20)	2.56	(1.83)	4.93

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